Country's largest private sector conglomerate Reliance Industries on Friday announced the issue of bonus shares to its shareholders. The issue in the ratio of 1:1, which means every RIL shareholder will get one share for every share held, is the largest bonus issue in India.
Chairman and managing director Mukesh Ambani said in the past 40 years, the RIL stock has reached Rs 1,000 to over Rs 16.50 lakh till now.
The significant rise in share price shows the stock has doubled investor's wealth in every 2.5 years.
On an year-to-date basis, the stock is up 47 percent and has risen 56.51 per cent on an yearly basis.
The stock closed 3.76 percent or 57 points higher at 1586 level on the BSE.